Martingale Asset Management L P Trims Stake in Comtech Telecomm. Corp. (CMTL)
Martingale Asset Management L P cut its holdings in Comtech Telecomm. Corp. (NASDAQ:CMTL) by 53.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,513 shares of the communications equipment provider’s stock after selling 32,534 shares during the period. Martingale Asset Management L P owned about 0.12% of Comtech Telecomm. worth $695,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. bought a new position in Comtech Telecomm. during the 4th quarter valued at about $486,000. Texas Permanent School Fund grew its holdings in Comtech Telecomm. by 5.2% during the 4th quarter. Texas Permanent School Fund now owns 15,644 shares of the communications equipment provider’s stock valued at $381,000 after purchasing an additional 768 shares during the last quarter. BlackRock Inc. grew its holdings in Comtech Telecomm. by 3.2% during the 4th quarter. BlackRock Inc. now owns 3,637,049 shares of the communications equipment provider’s stock valued at $88,526,000 after purchasing an additional 111,215 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in Comtech Telecomm. during the 4th quarter valued at about $89,000. Finally, Acadian Asset Management LLC grew its holdings in Comtech Telecomm. by 49.9% during the 4th quarter. Acadian Asset Management LLC now owns 37,286 shares of the communications equipment provider’s stock valued at $908,000 after purchasing an additional 12,416 shares during the last quarter. Hedge funds and other institutional investors own 88.21% of the company’s stock.
In other news, Director Edwin Kantor sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $25.50, for a total value of $25,500.00. Following the completion of the sale, the director now owns 500 shares of the company’s stock, valued at approximately $12,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Branscum sold 1,158 shares of the company’s stock in a transaction that occurred on Friday, January 18th. The stock was sold at an average price of $25.16, for a total transaction of $29,135.28. Following the completion of the sale, the vice president now directly owns 35,162 shares of the company’s stock, valued at approximately $884,675.92. The disclosure for this sale can be found here. 7.30% of the stock is owned by insiders.
Shares of NASDAQ:CMTL opened at $22.28 on Friday. The stock has a market cap of $545.97 million, a P/E ratio of 29.71, a PEG ratio of 3.97 and a beta of 1.33. Comtech Telecomm. Corp. has a 12 month low of $22.00 and a 12 month high of $36.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 2.20.
Comtech Telecomm. (NASDAQ:CMTL) last issued its quarterly earnings results on Wednesday, March 6th. The communications equipment provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.16 by $0.16. The company had revenue of $164.10 million for the quarter, compared to the consensus estimate of $159.96 million. Comtech Telecomm. had a net margin of 4.21% and a return on equity of 6.56%. The firm’s revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 EPS. On average, equities analysts forecast that Comtech Telecomm. Corp. will post 1.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Wednesday, April 17th will be given a $0.10 dividend. The ex-dividend date is Tuesday, April 16th. This represents a $0.40 annualized dividend and a yield of 1.80%. Comtech Telecomm.’s dividend payout ratio (DPR) is 53.33%.
Comtech Telecomm. Company Profile
Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment offers ground-based equipment, including single channel per carrier modems and solid-state amplifiers that facilitate the transmission of voice, video, and data over satellite links; and traveling wave tube amplifiers, such as high power narrow-band amplifiers used to amplify signals from satellite earth stations, as well as safety and security technologies.
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